and the whole system will be more reliable obviously which europe will naturally benefit from these gasper all is convinced that this consortium is beneficial not only to you but also to the ukrainians europe c. of the produces consumers transit countries absolutely everyone put you in why you the ones who have to convince everybody and they concessions and lower prices but you know it doesn't benefit you more than anybody else in my right that is anywhere near doing that i don't think so. your little one problems with transit to europe took place. they mostly complained to us because they had signed contracts with us not somebody else. so when looking at such initiative and european sask if this would help us carry out our contractual obligations. as far as ukraine is concerned. this issue has been on top of the chanter for a long time now. so for ukraine this is a very sensitive issue. from the. politics. and the main reason for doubts about this consortium. we have just heard people in the streets of moscow think. correspondent ask them if they thought russia should pay for this friends

the amal europe a pipeline belongs to the joint venture a europe whole gas and joint venture with gasper on the polish national gas company but it would be a new putting to the new requirements of the european commission. if it is soo guess transporting system is to be operated by an independent company and at the moment gas system which is a hundred percent polish state on company use a point two billion as i'm dependent operator we s. era poll guess shareholders are interested that the company receives enough revenue to be able to pay for credits. and we wanted to provide us with a reasonable terrorists for gas transit through polish territory which we think that the agreements which we have signed but i don't know but maybe less to do so it wasn't illegal but with the intergovernmental agreement you proving the entire package the cream and so we hope that it will be signed soon and poland itself is interested more than anybody in the region as a community face gas deficit if you're in the winter which is theory unpleasant. it's a list system of agreements with poland to do what is jus

to take is really to pay for that gasper as a business was not affected by that. so you know the same with belarus. some time ago we agreed on a transitional period that could hold them to four ounces the producer this was a chance to prevail period the consumer for higher prices it also i'm no expert tax on gas deliveries to bill roofs which we initially did not shed so this should be green into the ukraine expires scene of twenty nineteen issues so we're fine here i hope we don't need to war. as far as they'll roost is concerned though i just think you're right on the contract expires next year and we will have to negotiate the terms for a new agreement. at this point it is hard to say what is going to happen with these negotiations but we think that over time we have reached a mutually acceptable level of god peroration. and based on this that he and we hope you to sign a new contract. and you and i just said no to sky. you don't expect serious complications the so-called gas war was. was a scene when you hope to signing you usually beneficial agreement to they

hello and a very warm welcome to the business news the biggest foreign investor in gasper own house revealed why it's selling up electricity giant says its three point five percent stake is non-strategic as it shifts its focus from europe to asia but i was so you know never achieved the influence it wanted from. the two companies are currently negotiating about gas prices falling a slump in european demand russia finance chief talked to are open to the new shot to a pulp. what you see in front of you is very strategic number one what you see in front of you is the combined cycle gas turbine unit it's the most efficient operating in this country what is non-strategic is more something that we don't feel we have the right competency for this is our competency what you see in front of us we are an excellent builder or constructor and organizer of c.c.t. projects and we try to meet the expectations of the russian government. russia is the fifth largest gold producer in the world but despite rocketing prices for gold growth is slowing arches that tell a political expose why russia could be left b

with a shawl i was folly gasper with supply no less than ten billion cubic meters of natural gas per year to south korea starting in five years time the present russia supplies to asia just liquefied natural gas in modest volumes the past delivered to the region as much gas as it sends to europe touch and perk over ports. asia in poor it's just one twentieth of the gas that russia supplies to europe japan india and south korea receive aid billion cubic meters of liquefied natural gas from russia by tanker but there are reasons huge room for growth visiting small head of gas pramod like say miller sees these market alone expanding by fifteen percent within the decade. but not as in our korean partners are interested in increasing the gas supply into the korean market and today we agreed with the coal gas company on the fact that we move to the next stage of negotiations gazprom is also in talks with china as ever as a sticking point is prize gas consumption in china is expected to balloon to two hundred billion cubic meters a year offering a new export markets for russia but analysts

and renewable energy will supply two thirds of world energy by twenty third to russia's fuel giants gasper. all looking at alternative sources the declared strategy is to boost the share of renewables in the country's energy balance to turn a half percent in five years. but they're having to do it with out to the state subsidy is common in europe how much money does the government spends on renewable generation. isn't it fair know now we warned what portion green energy producers want the government to go and taint higher prices for electricity derived from bring you a bill sold says they admit that's the only way green and energy can be profitable but russia's dependence on traditional sources is so strong that renewable projects are likely to remain no more than experiments until they prove their long term viability him that's all the business our team. that's your update for now stay with r.t. for headline news up next. for your convenience are comfortable shuttle bus will take you to the spot. just a few hours concerning virgin forest and scaring the most current mirrors in your direct

russia's gas exports monopoly gasper estimates the south stream pipeline across the black sea to europe will cost about twenty billion dollars that offshore part of the pipe may cost fifteen billion dollars at current prices while the onshore section in europe is expected to cost half that and investment decision on the project is to be made by mid april and getting back to look oil the company raised twenty nine percent in the first nine months cited high oil prices and a favorable settlement in augusta ownership dispute warnings came in at around six point eight billion dollars on the international accounting standards credit cost controls with generating record free cash flow. as for investment around eighty percent is planned to be spent on exploration and production twenty percent will be spent on processing and marketing currently look or oil producers around ten percent of its oil and gas abroad the company's going to actively develop foreign projects primarily this relates to western africa also we are actively developing the west corner project in iraq we have large projects in

the fox business senior correspondent charlie gasper reno joins us live from the newsroom in new york city now. charlie it, appears as if the justice department has some big plans or at least act like it's shaking up this industry. >> shaking up the hedge fund industry. classic insider trading. it's heathed up in the last couple years. they brought in galion. from that case brought all these other cases. what we are hearing today is that you know, they plan on looking at about 12 of these funds. i think that this really is is a crackdown on hedge funds, those are the funds that if you are a rich guy you can get in average joes cannot get in those type of funds. >> shepard: what does this mean for the average joe kind of investor? >> my opinion, very little. i think the average joe should be more worried about quantitative easing. that's the fed pumping money into the system creating money. interest rates being very low as they're something like this. people trading on inside information. they are getting a jump on the market. that's true. but really average people should be in the mar

the fox business network charlie gasper reno live in our newsroom.in more what this means for taxpayers. >> it means the taxpayers are getting their money back essentially. this is a long time coming. they have been talking about this for months. we at the fox business network were the first to report they were going to unwind. this this will be one of the biggest ipo's. in the end taxpayers will have about two thirds of their money back from the bailout. >> shepard: in 2009, g.m. reorganized under this bankruptcy protection. what is this ipo say about the company's health now? >> well, it's obviously better. but, you know, shep, it's better because the government gave it a handout. that's why we can talk about the taxpayers being paid back. there are implications for governments going in there and bailing out, failing institutions. that's the problem with this ipo. nobody knows long term whether it's this is a goodbye come in at $33 a share. it may go down there. is a lot of discontent about a company that's essentially still owned in large part by